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Arman Industries has net income of $ 4 , 5 0 0 , 0 0 0 , and it has 1 , 5 0 0
Arman Industries has net income of $ and it has shares of common stock outstanding. The company's stock currently trades at $ a share. Arman is considering a plan in which it will use available cash to repurchase of its shares in the open market at the current $ stock price. The repurchase is expected to have no effect on net income or the company's PE ratio. What will be it's stock price following the stock repurchase?
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